President Donald Trump avoided a trade war, for now, with Canada and Mexico after the two U.S. allies offered plans Monday to reduce illegal immigration and drug trafficking into the United States. Mere hours before the president’s new 25% tariffs on all imports from Mexico and Canada were to go into effect both Mexican President

Donald Trump ordered tariffs on Mexican, Canadian, and Chinese imports. Here's a breakdown of what tariffs do, how they can affect your wallet.

The move likely will trigger retaliation and risk igniting a trade war that could cause broad economic disruption for all countries involved.